OneBeacon Insurance Group, the brand for Intact Financial Corporation’s U.S. insurance company subsidiaries, has announced the acquisition of the renewal rights to Brit Global Specialty USA’s admitted ‘First Dollar Package’ Public Entity portfolio.
The portfolio acquired in the transaction provides admitted coverage for cities, towns, villages, boroughs, water-sewer utilities and other special service districts in 14 states across the U.S.
Not included in the transaction is Brit Global Specialty USA’s ‘Alternative Risks’ business, its longstanding core E&S offering to public and nonprofit clients.
Additionally, Sharon Wright has joined OneBeacon with the sole purpose of leading the portfolio transition and expansion.
Bradley York, President of OneBeacon Government Risks, said: “Through this agreement, we strengthen OneBeacon’s public entity capabilities with a complementary portfolio that broadens our network and expertise into smaller local governments. We’re also excited to welcome Sharon to OneBeacon. Her deep expertise in the public entity segment parallels our approach and I look forward to working with her.”
Wright added: “I am excited to join OneBeacon and the Government Risks team. I look forward to building upon a strong and established public entity portfolio and continuing to grow and service a business and specific market segment that I know well.”
